Summary: New Baltimore, Michigan; General Obligation Jan 11

Standard & Poors, January 2011

Abstract
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating and stable outlook to New Baltimore, Mich.'s series 2011 general obligation (GO) unlimited-tax refunding bonds. At the same time, Standard & Poor's withdrew its 'AA-' long-term rating on the city's 2010 GO unlimited tax refunding bonds due to the issuer not selling the bonds as originally expected in November 2010. At the same time, Standard & Poor's affirmed its 'AA-' rating on the city's GO bonds outstanding. The 'AA-' rating reflects what we view as New Baltimore's: Access to the Detroit metropolitan area and Macomb County economic bases; Very strong income indicators; and Very strong financial reserve position coupled with good financial management practices. These strengths are partially offset, in...

Companies mentioned in this report are:
- New Baltimore

Action: Affirmed
Action: New Rating
Action: Outlook: Stable
Action: Withdrawn

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- New Baltimore

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